2. How Does It Work?
$400/month $200/biweekly
Pmt Instead of making a single
payment every month…
• Lender receives $4,800/year
Pmt
…debits occur every two weeks.
• Lender receives $5,200/year
Pmt
Total: 12 Monthly Payments Total: 13 Monthly Payments
3. Result #1 Happier Customers
85% of Americans are paid
biweekly or semi-monthly
Smaller payments are easier to budget vs.
Payments can be matched to the
customer’s exact pay dates
4. Result #2
Early Payoff & More Equity
Traditional
Biweekly
The loan in the biweekly
program is paid off 5-6
months sooner!
6. Customer Benefits
1 Easier to manage payments
One, large
monthly payment Two smaller
payments
No schedule Complete
flexibility flexibility
Standard Biweekly
7. Customer Benefits
2 Reduced Loan Term
72 months
66 months Paid off 6
months early!
Standard Biweekly
8. Customer Benefits
3 Increased Equity
$25,000
$25,000 Paid Off!
$22,500
$15,700
$13,900
$4,800
$4,300
Equity
1 year 3 years 5 ½ years
9. Customer Benefits
4 No up-front cost
January Debit Debit
Program Fee Program fee is included
in customer’s debits.
February Debit Debit Debit
Principal
10. Dealership Benefits
1 Additional F&I Products
No increase in Payment or Term
• 60 months or • 60 months
• $400/month • $200 every other week
+
11. Dealership Benefits
1 Additional F&I Products
No increase in Payment or Term
65 months
$1,800 F&I
products
60 months
Term stays 60 months
$1,800 F&I
+
products
$400/mo becomes
$200 biweekly
$400/mo $200 biweekly
Standard Standard with Biweekly with
No F&I products F&I products F&I products
12. Dealership Benefits
1 Lower price of F&I products
Protection Items Cost Biweekly
Extended warranty $1,600 or $13 every 2 weeks
Roadside assistance $550 or $4.60 every 2 weeks
GAP $700 or $5.80 every 2 weeks
13. Dealership Benefits
2 Additional benefits
Customers return faster
Customers return with more equity for trade in
Advertise lower payments
All customer service handled by MMP
Easy enrollment
Dealer Earns a commission on every enrollment
14. Introducing the Program
Before we wrap this up, would you like
to make traditional Monthly payments
or would you like to match your
payments to your pay check, through
our Bi-Weekly Payments program?
How does that work?
15. Introducing the Program
+
All calculators are available at:
http://training.makemypayments.com
18. How our Calculators can Help
Add additional F&I products without
increasing the customer’s payment or term
Reduce the term
Lower the monthly payment
19. 1 Lower the Monthly Payment
Traditional Loan Biweekly Loan
$22,000 loan $22,000 loan
60 months 66 months
6% 6%
• Monthly payment: $425 • Monthly payment: $400
• Biweekly payment: $200
• Effective term: 60 months
Result: Same payment Lowered monthly payment by
$25/month with same term!
23. 3 Create a Shorter Term
Traditional Loan Biweekly Loan
$22,000 loan same
60 months same
6% same
• Monthly payment: $425 • Biweekly payment: $213
• Effective term: 55 months
Result: Same term Term reduced by 5 months!
26. Enrolling Customers
Customer enrollment is simple:
Contracts in Reynolds or ADP libraries
Via your computer and print out the
customer agreement in PDF
100% online through your DMS